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Hilton to acquire Graduate Hotels for $210 million

Hilton to acquire Graduate Hotels for $210 million

Old Mar 14, 2024, 5:05 am
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Hilton to acquire Graduate Hotels for $210 million

https://www.wsj.com/real-estate/comm...nsion-74ca6e60

Hilton press release:
https://stories.hilton.com/releases/...rand-portfolio

Last edited by Adelphos; Mar 14, 2024 at 6:04 am
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Old Mar 14, 2024, 7:38 am
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I remember reading rumors about this about a month ago...doesnt strike me as a very enticing set of offerings, but I am sure others will be excited by it
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Old Mar 14, 2024, 7:59 am
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Is this Hilton's first ever acquisition?
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Old Mar 14, 2024, 8:02 am
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Originally Posted by Xiaotung
Is this Hilton's first ever acquisition?
Hilton bought Hampton Inn, Doubletree, Embassy Suites, etc in a deal 25 years ago. Not sure if they have done one since.
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Old Mar 14, 2024, 8:10 am
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Originally Posted by Schnit
I remember reading rumors about this about a month ago...doesnt strike me as a very enticing set of offerings, but I am sure others will be excited by it
Those who go to college towns for whatever resaon (company recruiters, sports fan, etc) will like it. They tend to be nicer than the typical hotels in those towns, have a bit of a college/local flavor to them vs the generic Hyatt Places/HGIs that tend to populate the smaller towns, and tend to have a bit of a Moxy vibe in terms of appealing to a younger audience.
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Old Mar 14, 2024, 8:26 am
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Originally Posted by Adelphos
Hilton bought Hampton Inn, Doubletree, Embassy Suites, etc in a deal 25 years ago.
That is correct.

The company that it acquired was called Promus Hotel Corporation, which included the DoubleTree, Embassy Suites, Hampton Inn, Homewood Suites, and Red Lion brands.

Two years later, Hilton sold Red Lion to WestCoast Hospitality.

As for Graduate Hotels, I know of a college student who stayed at one and was not happy with it. That person is hoping that Hilton improves the experience.
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Old Mar 14, 2024, 10:14 am
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Ive heard some positive things about this brand and some negative things - including poor cleanliness, etc. - Im assuming it will be property-dependent. Not to generalize offensively, but sometimes, college town employment leads to lackadaisical service and standards.
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Old Mar 14, 2024, 10:17 am
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That's around $6 million per property being reflagged.
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Old Mar 14, 2024, 1:48 pm
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This acquisition brings at least one former Hilton family hotel back into the fold. Providence Biltmore was one of the first properties to join the then-nascent Curio Collection in 2014, but less than three years later, Graduate's parent company AJ Capital Partners acquired and rebranded the hotel. Though Providence is no doubt a college town, the Biltmore is something of a grand dame that was better suited under Curio than Graduate.
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Old Mar 14, 2024, 5:02 pm
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Graduate Hotels will eventually participate in the Hilton Honors membership program.

That means that this collection of hotel properties will soon Graduate with Honors.
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Old Mar 14, 2024, 5:32 pm
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The question at hand is whether Hilton maintains the Graduate brand, absorbs the hotels into a Collection brand and keeps the Graduate name, or rebrands and renames the properties.
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Old Mar 14, 2024, 6:07 pm
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Originally Posted by ElevatorEnthusiast
The question at hand is whether Hilton maintains the Graduate brand, absorbs the hotels into a Collection brand and keeps the Graduate name, or rebrands and renames the properties.
The press release mentioned the potential to grow to perhaps 500 hotels, which would place Graduate among Hilton's largest brands by property count.
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Old Mar 15, 2024, 10:22 am
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Graduate Local Focus

I've stayed on only one Graduate property (in Annapolis, MD) and it was incredibly focused on the local college, which is the U.S. Naval Academy. Photos, memorabilia, and themed items in every room and throughout the public areas. It's hard to imagine Hilton being able or willing to indulge that hyper-local branding, but no doubt they have a plan.
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Old Mar 15, 2024, 1:12 pm
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Originally Posted by MS02113
The press release mentioned the potential to grow to perhaps 500 hotels, which would place Graduate among Hilton's largest brands by property count.
​​​​​​

Are there 500 college towns globally in need of a large but boutique hotel? Unless they're moving away from the graduate branding, that feels at minimum 2x too optimistic
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Old Mar 15, 2024, 6:12 pm
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I stayed at the one in Evanston IL last fall to attend a symposium at Northwestern. It had a cross between boutique and ramshackle feel to it. For example, the main elevator was broken, so guests had to use the service elevator. But inside the rooms, they were well-appointed.
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